Naira gains marginally at official market, holds steady at black market
By Aboki Forex —
The naira appreciated against the dollar at the official foreign exchange market on Thursday, firming up by 64 kobo. Central Bank of Nigeria data showed the naira strengthened to N1,378.43 per dollar, up from N1,379.07 recorded on Wednesday.
Official market movement
On a day-to-day basis, the Nigerian currency gained N0.64 at the official window. The marginal appreciation comes after the naira had extended its depreciation against the dollar at the official market on Wednesday.
Black market unchanged
At the parallel market, the naira remained flat at N1,430 per dollar on Thursday, the same rate traded the previous day. A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Bengazzi, confirmed the rate.
Foreign reserves continue to rise
The development comes amid a sustained increase in Nigeria’s foreign reserves, which climbed to $51.71 billion on July 8, 2026. The continued buildup in reserves provides some buffer for the central bank to defend the naira in the official market.
For Nigerian businesses and consumers, the slight official rate gain offers little relief, as the gap between the official and black market rates remains wide at over N51 per dollar. Importers and manufacturers still face higher costs sourcing dollars outside the official window.